Slight dip in house prices over the past month

THE average house price dipped by 0.8% month-on-month in June, according to an index.

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Across the UK, the typical property value in June was £271,619, Nationwide Building Society said, with the average house in Wales valued at £212,969.

The annual rate of house price growth slowed, to 2.1% in June, from 3.5% in May.

Robert Gardner, Nationwide's chief economist, said: “The softening in price growth may reflect weaker demand following the increase in stamp duty at the start of April.

“Nevertheless, we still expect activity to pick up as the summer progresses, despite ongoing economic uncertainties in the global economy, since underlying conditions for potential home buyers in the UK remain supportive.”